Enphase Energy (NASDAQ:ENPH) PT Lowered to $130.00 at Wells Fargo & Company

Enphase Energy (NASDAQ:ENPH) had its price target cut by equities research analysts at Wells Fargo & Company from $141.00 to $130.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the semiconductor company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 20.90% from the stock’s previous close.

ENPH has been the subject of a number of other research reports. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a report on Wednesday. BMO Capital Markets cut their target price on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a research note on Wednesday. Royal Bank of Canada assumed coverage on shares of Enphase Energy in a research note on Wednesday, February 14th. They set an “outperform” rating and a $140.00 target price for the company. StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $140.27.

Enphase Energy Stock Performance

NASDAQ ENPH traded down $5.95 on Wednesday, reaching $107.53. 7,731,711 shares of the company’s stock traded hands, compared to its average volume of 4,130,749. The firm has a market cap of $14.62 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 3.16 and a beta of 1.47. The stock has a 50 day moving average price of $119.28 and a 200-day moving average price of $111.97. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. Equities research analysts predict that Enphase Energy will post 2.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Badrinarayanan Kothandaraman acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the acquisition, the chief executive officer now owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the completion of the transaction, the executive vice president now owns 124,948 shares of the company’s stock, valued at $13,605,587.72. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock worth $4,054,428 in the last ninety days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Bogart Wealth LLC acquired a new stake in shares of Enphase Energy during the 4th quarter worth $26,000. CVA Family Office LLC purchased a new stake in Enphase Energy during the 4th quarter worth $31,000. Parkside Financial Bank & Trust boosted its position in Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares during the period. Covestor Ltd boosted its position in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 133 shares during the period. Finally, Addison Advisors LLC boosted its position in Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 304 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.